Weiss Asset Management LP Grows Position in Hayward Holdings, Inc. (NYSE:HAYW)

Weiss Asset Management LP raised its holdings in Hayward Holdings, Inc. (NYSE:HAYW) by 515.0% in the third quarter, Holdings Channel reports. The fund owned 1,286,267 shares of the company’s stock after buying an additional 1,077,117 shares during the period. Weiss Asset Management LP’s holdings in Hayward were worth $19,731,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Innealta Capital LLC acquired a new stake in shares of Hayward during the 2nd quarter worth approximately $30,000. Blue Trust Inc. grew its position in Hayward by 2,710.1% in the 3rd quarter. Blue Trust Inc. now owns 2,220 shares of the company’s stock valued at $34,000 after acquiring an additional 2,141 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Hayward in the third quarter valued at approximately $43,000. True Wealth Design LLC acquired a new stake in Hayward during the 3rd quarter worth approximately $44,000. Finally, nVerses Capital LLC acquired a new position in shares of Hayward in the second quarter worth $64,000.

Hayward Trading Down 1.4 %

Shares of Hayward stock opened at $15.79 on Friday. The firm has a market cap of $3.40 billion, a price-to-earnings ratio of 37.60, a price-to-earnings-growth ratio of 2.24 and a beta of 1.16. Hayward Holdings, Inc. has a 52-week low of $11.81 and a 52-week high of $16.87. The company’s 50-day simple moving average is $15.60 and its 200-day simple moving average is $14.38. The company has a quick ratio of 1.69, a current ratio of 2.62 and a debt-to-equity ratio of 0.70.

Hayward (NYSE:HAYW) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.10 by $0.01. Hayward had a return on equity of 9.93% and a net margin of 9.47%. The business had revenue of $227.57 million for the quarter, compared to analyst estimates of $222.88 million. During the same quarter in the previous year, the company earned $0.08 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Hayward Holdings, Inc. will post 0.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

HAYW has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price objective on Hayward from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Stifel Nicolaus increased their price objective on shares of Hayward from $15.50 to $16.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Robert W. Baird boosted their target price on Hayward from $19.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, KeyCorp boosted their price objective on shares of Hayward from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $16.80.

Insiders Place Their Bets

In other Hayward news, CFO Eifion Jones sold 75,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $16.11, for a total transaction of $1,208,250.00. Following the sale, the chief financial officer now owns 258,903 shares in the company, valued at approximately $4,170,927.33. This represents a 22.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Holleran sold 100,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $15.96, for a total value of $1,596,000.00. Following the sale, the chief executive officer now directly owns 522,799 shares in the company, valued at approximately $8,343,872.04. The trade was a 16.06 % decrease in their position. The disclosure for this sale can be found here. 3.25% of the stock is owned by company insiders.

About Hayward

Hayward Holdings, Inc designs, manufactures, and markets a portfolio of pool equipment and associated automation systems in North America, Europe, and internationally. The company offers pool equipment, including pumps, filters, robotics, suction and pressure cleaners, gas heaters and heat pumps, water features and landscape lighting, water sanitizers, salt chlorine generators, safety equipment, and in-floor automated cleaning systems, as well as LED illumination solutions.